Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31975.

barbs

hero member

Activity: 854

Merit: 1000

Quote from: Ivanhoe on November 04, 2013, 03:05:58 PM

Quote from: barbs on November 04, 2013, 02:54:52 PM

is there a better way to view stamp's activity? bitcoinity seems delayed and processing trades in batches..

Trading.i286.org doesn't have working stamp activity..

BTW F* u Gox - nice 450 coin buy on stamp.. wow

http://bitcoinwisdom.com/

Wow this is great, thanks

BitchicksHusband

sr. member

Activity: 378

Merit: 255

Quote from: Syke on November 04, 2013, 03:00:56 PM

Quote from: Its About Sharing on November 04, 2013, 02:39:13 PM

Quote

While all miners work from the most recently discovered block (think of it as the "original" block), the selfish mining process begins when a pool of miners discovers a new block and doesn't publish it. The selfish pool then begins working on discovering yet another block, mining from this hidden one. Meanwhile, the rest of the "honest" miners are still wasting resources mining from the original block.

Can you mine FROM a "hidden" block? This makes no sense to me.

Sure, you can mine a block, not publish it, and continue mining. But unless your pool has 51% of the network, the odds are the rest of the network will invalidate the block you are hiding, and then you've just lost a block and have to start over. It does nothing to harm the network, just yourself.

From what I read, the attack requires them to find 2 blocks before anyone else finding the same first one they found. Easier said than done. The averages are WAY against it. You might get away with it once or twice ever, but it's certainly not going to bring down bitcoin.

maz

full member

Activity: 140

Merit: 100

Quote from: barbs on November 04, 2013, 03:05:17 PM

Quote from: maz on November 04, 2013, 03:02:47 PM

Funds cleared,

You may now crash in your own time bitcoin. Preferably sooner rather than later.....

What are you hoping for? Wink

I'm hoping for Fibonacci's evil twin, Fibocrashy!

Ivanhoe

hero member

Activity: 841

Merit: 1000

Quote from: barbs on November 04, 2013, 02:54:52 PM

is there a better way to view stamp's activity? bitcoinity seems delayed and processing trades in batches..

Trading.i286.org doesn't have working stamp activity..

BTW F* u Gox - nice 450 coin buy on stamp.. wow

http://bitcoinwisdom.com/

barbs

hero member

Activity: 854

Merit: 1000

Quote from: maz on November 04, 2013, 03:02:47 PM

Funds cleared,

You may now crash in your own time bitcoin. Preferably sooner rather than later.....

What are you hoping for? Wink

maz

full member

Activity: 140

Merit: 100

Funds cleared,

You may now crash in your own time bitcoin. Preferably sooner rather than later.....

ChartBuddy

legendary

Activity: 2324

Merit: 1801

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Syke

legendary

Activity: 3878

Merit: 1193

Quote from: Its About Sharing on November 04, 2013, 02:39:13 PM

Quote

While all miners work from the most recently discovered block (think of it as the "original" block), the selfish mining process begins when a pool of miners discovers a new block and doesn't publish it. The selfish pool then begins working on discovering yet another block, mining from this hidden one. Meanwhile, the rest of the "honest" miners are still wasting resources mining from the original block.

Can you mine FROM a "hidden" block? This makes no sense to me.

Sure, you can mine a block, not publish it, and continue mining. But unless your pool has 51% of the network, the odds are the rest of the network will invalidate the block you are hiding, and then you've just lost a block and have to start over. It does nothing to harm the network, just yourself.

barbs

hero member

Activity: 854

Merit: 1000

is there a better way to view stamp's activity? bitcoinity seems delayed and processing trades in batches..

Trading.i286.org doesn't have working stamp activity..

BTW F* u Gox - nice 450 coin buy on stamp.. wow

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

Quote from: Walsoraj on November 04, 2013, 02:53:27 PM

Quote from: Nemo1024 on November 04, 2013, 02:42:46 PM

Looks like they are talking about 51% attack and blockchain forking, without actually understanding what they talk about...

No, it's not a 51% attack. But similarly, it does depend on miners doing something that will eventually hurt their own investment.

It's a 26% attack. Not really a big deal tough.

Walsoraj

hero member

Activity: 686

Merit: 500

Ultranode

Quote from: Nemo1024 on November 04, 2013, 02:42:46 PM

Looks like they are talking about 51% attack and blockchain forking, without actually understanding what they talk about...

No, it's not a 51% attack. But similarly, it does depend on miners doing something that will eventually hurt their own investment.

Adrian-x

legendary

Activity: 1372

Merit: 1000

Quote from: wobber on November 04, 2013, 02:12:34 PM

Quote from: mccorvic on November 04, 2013, 02:08:11 PM

Quote from: Walsoraj on November 04, 2013, 02:04:05 PM

Quote from: ardana123 on November 04, 2013, 01:55:30 PM

What exactly is this rally running on right now?

Fake volume in china by all the criminals who fled FINCEN registered exchanges.

This bubble will inflate further and burst even louder than the last one.

*bearlogic*

If it inflates more than 350, that's no bubble. That's a miracle. Actually if it stays above 300 is a miracle.

Lol just the fact Bitcoin exists is a miracle, the fact it's above $2. Makes me think there is a God.

Adrian-x

legendary

Activity: 1372

Merit: 1000

Quote from: klee on November 04, 2013, 02:11:02 PM

Quote from: Walsoraj on November 04, 2013, 02:04:05 PM

Quote from: ardana123 on November 04, 2013, 01:55:30 PM

What exactly is this rally running on right now?

Fake volume in china by all the criminals who fled FINCEN registered exchanges.

This bubble will inflate further and burst even louder than the last one.

I doubt the 'criminals' you say will actually move fiat, so FinCEN is irrelevant..

Yes they will they use HSBC and the like. The fines they pay FinCEN are larger than the Bitcoin market cap.

rocks

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Activity: 1153

Merit: 1000

Quote from: Its About Sharing on November 04, 2013, 02:39:13 PM

Quote from: rpietila on November 04, 2013, 02:32:05 PM

Quote from: gizmoh on November 04, 2013, 02:25:32 PM

walsoraj and bears, now you have grounds to predict an imminent crash:

Bitcoin Researchers: You Can Game the System

http://mashable.com/2013/11/04/bitcoin-cornell-researchers/

Selfish miners gonna kill bitcoin , In USD we trust Wink

How is it that they have no requirement to understand anything in the university concerning the topic they are researching...?

I was wondering if what they said was even possible. I never heard of hiding found blocks and the like.

Quote

While all miners work from the most recently discovered block (think of it as the "original" block), the selfish mining process begins when a pool of miners discovers a new block and doesn't publish it. The selfish pool then begins working on discovering yet another block, mining from this hidden one. Meanwhile, the rest of the "honest" miners are still wasting resources mining from the original block.

Can you mine FROM a "hidden" block? This makes no sense to me.

Yes you can mine on any block created.

But this only makes sense if the pool has 51% of the hash rate, otherwise the public chain will statistically grow longer.

This is also why you wait at least 6 confirmations to consider a transaction valid. A sub 50% pool can statistically mine on an alternate hidden chain for a few blocks from time to time.

In practice no one has done this because it is wasting your mining power and revenue. ...

DougTanner

sr. member

Activity: 280

Merit: 250

Rally continues on Stamp.

justusranvier

legendary

Activity: 1400

Merit: 1013

Coinbase price for buying BTC is now $5 more expensive then Mt Gox spot!

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: Nemo1024 on November 04, 2013, 02:42:46 PM

Looks like they are talking about 51% attack and blockchain forking, without actually understanding what they talk about...

Or at a bare minimum, not contributing anything that has not been there since day 1.

Nemo1024

legendary

Activity: 1680

Merit: 1014

Looks like they are talking about 51% attack and blockchain forking, without actually understanding what they talk about...

barbs

hero member

Activity: 854

Merit: 1000

226.97 on stamp. shit is getting real

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: rpietila on November 04, 2013, 02:32:05 PM

Quote from: gizmoh on November 04, 2013, 02:25:32 PM

walsoraj and bears, now you have grounds to predict an imminent crash:

Bitcoin Researchers: You Can Game the System

http://mashable.com/2013/11/04/bitcoin-cornell-researchers/

Selfish miners gonna kill bitcoin , In USD we trust Wink

How is it that they have no requirement to understand anything in the university concerning the topic they are researching...?

I was wondering if what they said was even possible. I never heard of hiding found blocks and the like.

Quote

While all miners work from the most recently discovered block (think of it as the "original" block), the selfish mining process begins when a pool of miners discovers a new block and doesn't publish it. The selfish pool then begins working on discovering yet another block, mining from this hidden one. Meanwhile, the rest of the "honest" miners are still wasting resources mining from the original block.

Can you mine FROM a "hidden" block? This makes no sense to me.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31975. (Read 26470681 times)